The Jersey Evening Post on 1st June reported that a convicted Jersey fraudster has been living a luxury lifestyle – taking private jets and first-class flights around the world – despite claiming he cannot access any of his accounts to pay back the £65 million he owes UK taxpayers. It explains that, in 2002, Gerald Smith, the former chief executive of Jersey-registered ORB, was jailed for 8 years by a judge in a London Crown Court after being found guilty of fraudulently obtaining £35 million from a UK IT company. He was subsequently handed a £41 million confiscation order, which has now risen to £65 million because of interest. Smith has so far paid back £4.8 million, and claims in court documents that he wants to pay off the rest but is unable to do so as his wealth is tied up in ongoing complex legal cases.
https://jerseyeveningpost.com/news/2018/06/01/fraudster-jets-around-the-world–owing-over-60m/
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